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(IT-NEWSWIRE.COM, June 04, 2019 ) Tilt sensor market [121 Pages Report] is expected to grow from USD 162.5 million in 2017 to USD 260.3 million by 2023, at a CAGR of 8.17% from 2017 to 2023. The growth of this market can be attributed to the ability of these sensors to provide information on the tilting position of objects, which is crucial in various applications for making decisions related to operations as well as for ensuring safety. These sensors are being used in many verticals such as mining, construction, aerospace, defense, automotive, transportation, and telecommunication. The base year used for this study is 2016, and the forecast period considered is between 2017 and 2023.
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The research methodology used to estimate and forecast begins with obtaining data on key vendor revenues through secondary research. Some of the secondary sources used in this research include information from various journals and databases such as IEEE journals, sensor journals, Factiva, Hoovers, and OneSource. Moreover, the vendor offerings have been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size from the revenue of the key players in the market.
Tilt sensors with nonmetal housing material type held the largest share of the market in 2016
The tilt sensor market, based on housing material type, is led by the nonmetal housing material type. The high demand for tilt sensors with plastic housing material is one of the major factors that has led to its dominant position in the said market. Apart from plastic, ceramic and nylon are some of the other common nonmetallic materials used by the companies for housing tilt sensors.
Browse and in-depth TOC on "Tilt sensor market"
61 - Tables
34 - Figures
121 - Pages
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Tilt sensor market for automotive and transportation vertical likely to grow at the highest rate during the forecast period
On the basis of vertical, the tilt sensor market for automotive and transportation vertical is expected to witness the highest growth rate during the forecast period. Wheel alignment systems and automobile security systems are two of the major application areas of tilt sensors in the automotive vertical.
Asia Pacific held the largest size of the tilt sensor market in 2016
Asia Pacific (APAC) held the largest size of the tilt sensor market in 2016, followed by North America and Europe. Japan accounted for the largest share of the tilt sensor market in APAC, followed by China. The leading position of the market in this region can be attributed to the high demand for these sensors due to the presence of a large number of end users such as mining and construction, aerospace and defense, and automotive and transportation companies.
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The major players operating in this market include TE Connectivity Ltd. (Switzerland), SICK AG (Germany), Murata Manufacturing Co., Ltd. (Japan), Pepperl+Fuchs Vertrieb GmbH & Co. KG (Germany), Level Developments Ltd. (UK), ifm electronic gmbh (Germany), Balluff GmbH (Germany), Jewell Instruments LLC (US), DIS Sensors bv (Netherlands) and The Fredericks Company (US).
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